The Contract For Selling A House is a fundamental legal document used in Malta for residential property transactions. It serves as the definitive agreement between parties for the transfer of house ownership, incorporating all essential elements required by Maltese law. The document is particularly important as it must comply with strict formal requirements under the Civil Code of Malta and the Notarial Profession and Notarial Archives Act, including mandatory execution before a Notary Public. This contract type is used whenever a residential property is being sold in Malta, whether to local residents or foreign buyers (subject to AIP requirements for non-residents). It includes crucial details about the property, parties, price, payment terms, warranties, and conditions for completion, while ensuring compliance with tax regulations, property transfer laws, and registration requirements.
Contract For Selling A House for Malta
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Contract For Selling A House
"I need a Contract For Selling A House for a detached villa in Sliema, Malta, including provisions for existing tenants who will remain in the property until March 2025, and the sale needs to be contingent on obtaining AIP approval as the buyer is a non-resident."
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1. Parties: Identification of the seller and buyer with full legal names, ID numbers, addresses, and marital status as required by Maltese law
2. Background: Context of the sale, including brief property history and current ownership status
3. Definitions: Key terms used throughout the agreement, including 'Property', 'Completion Date', 'Purchase Price', etc.
4. Property Description: Detailed legal description of the property including boundaries, measurements, and registration details as per Land Registry requirements
5. Purchase Price: Agreed purchase price, payment terms, deposit requirements, and payment schedule
6. Completion: Details of the final deed, completion date, and conditions for transfer of ownership
7. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, planning permits, and other legal assurances
8. Property Condition: Current state of the property and any agreed repairs or modifications before completion
9. Taxation and Costs: Allocation of stamp duty, notarial fees, and other transaction costs
10. Pre-Completion Obligations: Responsibilities of both parties before final deed, including maintenance and insurance requirements
11. Default and Remedies: Consequences of breach by either party and available remedies
12. Notices: How formal communications between parties should be made and delivered
13. Governing Law: Confirmation that the agreement is governed by Maltese law and jurisdiction
1. Mortgage Contingency: Used when the purchase is dependent on the buyer obtaining mortgage financing
2. Third-Party Rights: Required when there are existing tenants or other third-party interests in the property
3. Planning Permits: Necessary when the property requires specific planning permissions or has pending applications
4. AIP Requirement: Required when the buyer is a non-resident needing Acquisition of Immovable Property permit
5. Furniture and Fittings: Used when the sale includes specific movable property within the house
6. Energy Performance: Required when specific energy performance certificates or commitments are part of the sale
7. Development Restrictions: Needed when the property is subject to specific development or usage restrictions
8. Ground Rent: Required when the property is subject to ground rent
1. Schedule 1 - Property Details: Comprehensive property description, including plans, boundaries, and measurements
2. Schedule 2 - Fixtures and Fittings: Detailed inventory of items included in or excluded from the sale
3. Schedule 3 - Payment Schedule: Breakdown of payment terms, installments, and timing
4. Schedule 4 - Required Documentation: List of documents required for completion
5. Appendix A - Property Plans: Official architectural plans and site plans
6. Appendix B - Land Registry Documents: Copies of relevant Land Registry extracts and searches
7. Appendix C - Planning Permits: Copies of relevant MEPA permits and applications
8. Appendix D - Energy Performance Certificate: Current EPC and related energy documentation
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